Key Points
- Escalade director Richard Fenton Baalmann Jr. sold 5,000 shares at an average price of $22.27, generating $111,350 in proceeds and reducing his direct ownership by 4.86% to 97,794 shares.
- Escalade reported quarterly earnings of $0.68 per share, beating the $0.16 consensus estimate, while revenue of $57.7 million was broadly in line with expectations.
- The company announced a quarterly dividend of $0.1525 per share, equivalent to $0.61 annually and a 2.7% yield; institutional investors own 65.22% of the stock, and analyst sentiment is “Moderate Buy.”
Escalade, Incorporated (NASDAQ:ESCA - Get Free Report) Director Richard Fenton Baalmann, Jr. sold 5,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $22.27, for a total transaction of $111,350.00. Following the completion of the transaction, the director directly owned 97,794 shares in the company, valued at $2,177,872.38. This trade represents a 4.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Escalade Price Performance
NASDAQ ESCA opened at $22.60 on Friday. The company has a fifty day moving average of $19.07 and a two-hundred day moving average of $17.54. The company has a market capitalization of $311.11 million, a PE ratio of 13.53 and a beta of 0.58. Escalade, Incorporated has a 1 year low of $11.41 and a 1 year high of $23.07.
Escalade (NASDAQ:ESCA - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.52. The business had revenue of $57.70 million during the quarter, compared to the consensus estimate of $57.60 million. Escalade had a return on equity of 13.11% and a net margin of 9.46%. On average, research analysts expect that Escalade, Incorporated will post 1.56 earnings per share for the current year.
Escalade Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Tuesday, October 6th will be given a dividend of $0.1525 per share. The ex-dividend date is Tuesday, October 6th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 2.7%. Escalade's dividend payout ratio (DPR) is 36.53%.
Institutional Trading of Escalade
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG acquired a new stake in Escalade in the second quarter valued at about $156,000. Bank of New York Mellon Corp acquired a new position in Escalade during the 2nd quarter worth approximately $1,720,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Escalade during the 2nd quarter worth approximately $208,000. Bank of America Corp DE lifted its holdings in shares of Escalade by 13.9% in the 1st quarter. Bank of America Corp DE now owns 10,442 shares of the company's stock valued at $179,000 after buying an additional 1,271 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Escalade by 3.4% in the first quarter. Royal Bank of Canada now owns 20,033 shares of the company's stock valued at $344,000 after buying an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 65.22% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on ESCA. Wall Street Zen upgraded shares of Escalade from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 14th. Zacks Research cut shares of Escalade from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded shares of Escalade from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy".
Read Our Latest Research Report on ESCA
About Escalade
(
Get Free Report)
Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.
Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.
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